Section 14(3) in The Compulsory Deposit Scheme (Income Tax Payers) Act, 1974
(3)If a depositor fails to make the compulsory deposit within the time allowed under section 5, or if he fails to deposit or, as the case may be, pay the amount which he is required to deposit or pay by notice under sub- section (1) within the time allowed under sub- section (2) (whether fixed originally or on extension), at the place and with or to the person mentioned in the said notice, the depositor shall be deemed to be in default.
